An Example of Opportunity Cost Is the

question 94

Multiple Choice

An example of opportunity cost is the

• A)income that a person does not earn because she has retired and decided not to work at all.
• B)pleasure that an economics student derives from studying economics.
• C)Chinese food that you gave up when you chose to eat Italian food.
• D)tuition you pay to attend college.
• E)price paid for a concert ticket when you go to that concert.

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Definitions:

Full Disclosure Act

Legislation or regulatory requirement obligating companies to provide all material information necessary for informed decision-making by stakeholders.

Monetary Civil Penalties

Fines imposed in civil legal proceedings as a punishment for violating laws or regulations.

Consumer Financial Protection Bureau

The Consumer Financial Protection Bureau is a regulatory agency charged with overseeing financial products and services offered to consumers.

Magnuson-Moss Warranty Act

U.S. federal law that governs warranties on consumer products to ensure product standards and protect consumers.